*Even if* the bitcoin price keeps correcting downwards, as it has been recently, it could still easily bounce off the 200 SMA at around $39.4k and still retain a bullish structure - and go upwards from there, perhaps later in the year.
If however, Bitcoin's price fell through the 200 SMA, things could start to look a lot more bearish.
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The most recent price of BTC at the time of writing is: $46903.85.
The 200 Simple Moving Average (SMA) is at: $39368.76.
The percentage distance from the latest BTC price and the 200 SMA is: 19.0%.
A coin with a price greater than its 200 SMA is more costly on average, and so this might be a good time to sell. However, this might be a part of a bullish trend where the price will continue even higher.
Average Candle Height (ACH) for BTC: 5.53%.
Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like 1INCH can have 15% ACH or more.
The number of 1d candles measured in this calculation were: 500.
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If however, Bitcoin's price fell through the 200 SMA, things could start to look a lot more bearish.
---------------
The most recent price of BTC at the time of writing is: $46903.85.
The 200 Simple Moving Average (SMA) is at: $39368.76.
The percentage distance from the latest BTC price and the 200 SMA is: 19.0%.
A coin with a price greater than its 200 SMA is more costly on average, and so this might be a good time to sell. However, this might be a part of a bullish trend where the price will continue even higher.
Average Candle Height (ACH) for BTC: 5.53%.
Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like 1INCH can have 15% ACH or more.
The number of 1d candles measured in this calculation were: 500.
---------------
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